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Do you have the brand name or own name dilemma?

Posted on Posted in business tips, entrepreneurship, marketing, sales, small business

I hear this brand name vs. own name dilemma over and over and over. And the answer is: there is no good answer. It’s situational. In some cases you might be better using your own name and in other cases it might be better to use a brand name. In this post I am going to go through a few typical situations what is better and when.

 

With my private clients I go through the most common situations what is good and when in general then I help them decide what is best for their personal situation. But I still want to give you a few guidelines to relieve the pressure.

 

Tip #1 – Your business name does not matter as much as you think

 

Your business name and/or your brand name does not matter in itself because names just in themselves are empty. Regardless what name you choose you have to fill it up with meaning that you do with your branding and the value you provide. People will associate you and your brand with what you do but it takes time and constant communication.

 

Tip #2 – Your tagline matters more

 

Because of the above your tagline communicates more than your actual name. So instead of worrying about what you call yourself put more energy into describing what you do for people as best as you can.

 

Tip #3 – You can change your name at any time

 

If you feel you’ve made a mistake or you’d like to take a different direction in your business, you can re-brand any time and make the necessary adjustments. A good example is Bob Proctor. He used to run a personal brand based business but a couple of years ago he re-branded and created the Proctor-Gallegher Institute.

 

Tip #4 – Survey potential clients

 

You can ask your potential clients what they prefer, but make sure you don’t ask peers because what someone from your industry might say would be very different from your ideal client’s perspective. Simply because your peers have a different awareness of the industry as a whole.

 

Tip #5 – Evaluate, take a deep breath

 

Evaluate your survey results but make sure to choose something that you actually like. Take a deep breath, seriously, you’ll feel better. Then make your choice commit to it and make the best of it as you can.

 

Tip #6 – Tweak

 

If you think that something is out of whack try to tweak your tagline instead of  changing your name. Often times the issue is not the name but unclear value proposition. Or think about hiring a communication and/or branding expert that can help you to communicate verbally and visually better.

 

In conclusion, don’t stress. There are so many decisions and forks in the road. Try to simplify as much as possible and make your life as easy as you possibly can.



What is your opinion?


Do you think you name matters more than your tagline or vica versa?

 

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